US consumer confidence plunges to lowest in 5 years on tariff worries
Americans’ confidence in the economy slumped for the fifth straight month to the lowest level since the onset of the COIVD-19 pandemic as anxiety over the impact of tariffs take a heavy toll on consumer expectations for future growth.
The Conference Board said Tuesday that its consumer confidence index fell 7.9 points in April to 86, its lowest reading since May 2020. Nearly one-third of consumers expect hiring to slow in the coming months, nearly matching the level reached in April 2009, when the economy was mired in the Great Recession.
The figures reflect a rapidly souring mood among Americans, most of whom expect prices to rise because of the widespread tariffs imposed by President Donald Trump. About half of Americans are also worried about the potential for a recession, according to a survey by The Associated Press-NORC Center.
more:
http://apnews.com/article/economy-confidence-tariffs-f3cb9058971c008127f8dc22c8933296?
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